President-elect Donald Trump's Cabinet nominees Scott Bessent, Doug Burgum, Lee Zeldin and Scott Turner will sit for Senate confirmation hearings Thursday.

The Senate Finance Committee grilled President-elect Donald Trump’s choice for Treasury Secretary Thursday. Scott Bessent, a South Carolina billionaire hedge fund manager, wasted no time getting to the crux of his confirmation hearing: the expiring Trump tax cuts.

Trump's promised tax cuts, and their potential consequences for the U.S. economy, took center stage at Bessent's confirmation hearing.

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Follow along with MarketWatch's live coverage of the Senate confirmation hearing for Scott Bessent, President-elect Donald Trump's nominee for Treasury secretary.

Scott Bessent told Sen. Ron Wyden, during his confirmation hearing to serve as Donald Trump's Treasury Secretary, he believes Chinese companies are likely to reduce prices in response to American tariffs,

Thursday’s trio of confirmation hearings for President-elect Donald Trump’s Cabinet nominees put the focus squarely on Trump’s domestic and economic agenda that will dominate the debates on Capitol Hill this year.

Trump's picks fit into three groups: the fortifiers (the good), the detractors (the bad), and the mercurial influencers who might do good or harm.

Bessent said he believed Trump's presidency would help "unleash a new economic golden age," which could include more jobs and wealth for Americans.

The national debt is slated to rise by $23.9 trillion over the next decade, a sum that does not include trillions of dollars in additional tax cuts being championed by President-elect Donald Trump.

President-elect Donald Trump's pick for Treasury secretary, Scott Bessent, said on Thursday that the dollar should remain the world's reserve currency, the Federal Reserve should stay independent and that he is ready to impose tougher sanctions on Russia's oil sector.